InfoAnda - Year after Lehman collapse, Obama charts new course

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

S.Korea Jan output data points to waning recovery | 3 March 2010
War film big winner at Golden Rooster Awards | 18 October 2009
Philippine power restored after typhoon rampage | 16 July 2010

FBI charges 91 in $295 million Medicare fraud | 8 September 2011

Forum Views () Forum Replies ()

Read more with google mobile : Year after Lehman collapse, Obama charts new course

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Year after Lehman collapse, Obama charts new course AFP - Tuesday, September 15 WASHINGTON (AFP) - - A year after Lehman Brothers imploded and unleashed global financial contagion, President Barack Obama will argue Monday that his policies are rescuing a US financial system that was near collapse. ADVERTISEMENT In a major Wall Street speech, Obama will outline the steps he took after entering the White House at a time of investor panic, and say his administration staved off a second Great Depression. Aides said he then will refocus attention and call for action on financial, regulatory and structural problems still dogging the slowly reviving economy, which he believes will underpin long-term recovery. "We are making a clear transition from rescue as the priority of public policy to sustained recovery," said Lawrence Summers, director of Obama's National Economic Council. "We have moved back from the brink of financial catastrophe to a set of very important problems that need to be managed." The speech, scheduled for 1610 GMT, comes a week before Obama hosts a Group of 20 summit in Pittsburgh, where global economic powers will try to agree a strategy to head off future crises. It is widely seen as part of the White House's effort to re-kindle bank regulatory reform efforts. "The president is trying to get things back on track on the regulatory restructuring effort, as part of the broader picture of the administration's effort to drive the economic recovery," said Kevin Petrasic, of counsel at Paul Hastings, Janofsky & Walker LLP in Washington. In recent weeks, as economic indicators have suggested glimmers of hope, the White House has pointed to evidence that Obama's approach is reaping dividends, last week arguing that his huge 787-billion-dollar stimulus plan had created or saved up to 1.1 million jobs. This followed polls showing that most Americans believe conversely that the stimulus plan is having no impact. Obama staunchly defended his stimulus in an interview which aired Sunday on CBS show "60 Minutes." "The reason we did so was that every credible Democratic and Republican economist at the time when we came in said, 'If we don't have a stimulus of some sort, then this is potentially going to get a lot worse,'" Obama said. "When I walked in, the banking system, the financial system was under the verge of collapse." Officials now predict a possible return to economic growth in the third quarter this year, a moment that will mark a political milestone for the administration. "When the president was elected and in transition, the issue... was whether recession would become depression," said Summers. "Today, the question is when the recession phase will end. That is not in our judgment an accident." As well as his huge stimulus, Obama invested hundreds of billions of dollars bailing out the indebted financial sector, unveiled mortgage rescue plans and took steps to loosen the flow of credit. Though the White House argues its policies are working, officials admit there is much economic pain to come -- and predict that even in recovery, unemployment will hit 10 percent. The New York Times argued in an editorial that the important work of regulatory reform remained undone. "The administration has proposed legislation that would bring most of the financial system under a regulatory umbrella, and impose higher capital requirements to cushion against losses," the newspaper noted. "But in specific areas, like consumer protection, Obama officials will have to fight to ensure that lawmakers do not water down the administrations intent." The administration's next big challenge will come in managing the transition out of the industrial and financial sectors and purging what Obama has branded a "culture of irresponsibility" on Wall Street. Obama, said one administration official, will "urge the financial community to take responsibility, not only to support reforming the regulatory system but also to avoid a return to the practices on Wall Street that led us to the financial crisis." His address will come exactly a year after the collapse of banking giant Lehman Brothers, which unleashed a credit crisis, government interventions to help secure markets, and a downturns that pushed much of the world into recession. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Obama's Presidency Year after Lehman collapse, Obama charts new courseAFP - Tuesday, September 15 Anger at economy won't deter Obama on healthAFP - Tuesday, September 15 US 'powerless' to stop Afghan war: Bin LadenAFP - Tuesday, September 15 Thousands rally against ObamaAFP - Monday, September 14 Enlarge Photo Street signs outside the New York Stock Exchange. A year after Lehman Brothers imploded and unleashed global financial contagion, President Barack Obama will argue that his policies are rescuing a US financial system that was near collapse. Related Full Coverage Obama's Presidency What change will Obama bring? Will it affect the rest of us globally? All Full Coverage Most Popular – Top Stories Viewed Nestle warns of possible exit from Switzerland Remains of Jesus-era synagogue found in Israel Study explains bacteria's resistance to antibiotics Britain apologises to WWII code-breaker hero Depression harms cancer survival rates: study View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Monday, 14 September 2009
30 Afghan civilians killed in NATO strike: investigation
Merkel faces rival in crucial German TV debate
Kuwaiti MP questions govt over Zain stake sale
Study explains bacteria's resistance to antibiotics
Iraqi shoe thrower to be released Monday
Late Israeli astronaut's pilot son killed in crash
Tsvangirai criticizes Mugabe party during EU visit | International |
Son of late Israeli astronaut dies in plane crash
Israel: Differences with US over peace talks
Sarkozy popularity falls on crisis response: poll | International |
Up to 50 Taliban killed in Afghan clashes
AU soldiers mistake camels for Somali rebel attack | International |
Secret Russian military files feared lost in fire | International |
Obama deplores shooting of anti-abortion activist
Key group of U.S. lawmakers nearing healthcare deal
Nobel Peace Prize winner Norman Borlaug dies at 95
Search for Yale student turns to Conn. landfill
Pakistan outsources part of terror war to militia
More in Congress question Afghanistan policy
37 killed in fire at Kazakh drug rehab clinic
China military spotlighted in national day parade
AP NewsAlert
China hits back in US tyre import dispute
Axelrod says public option is alive
'Green Revolution' pioneer Borlaug dies
Bangladesh probes marriage of teen to elderly man
County wants millions to fix image after ash spill
US tariffs undermine economic, trade ties: Beijing
Texas city marks anniversary of Hurricane Ike
Flights delayed by radar failure at Manila airport
Pakistan says close to capturing militant leader
Bangladesh mutiny trial cannot use military law
5 Hong Kong workers die in elevator shaft fall
Depression-era dinnerware keeps maker afloat
China investigates US auto, chicken imports
Is there trouble in Oprah's TV kingdom?
Oscar-winning Coens head home with A Serious Man | Entertainment |
Tyler Perry has good opening with 'Bad'
US-ENTERTAINMENT Summary
Tyler Perry leads box office for 2nd time in 2009 | Entertainment |
Tyler Perry leads box office for 2nd time in 2009
Florida's Disney World to get Fantasyland facelift
Elton John wants to adopt Ukrainian toddler
Cody exorcises demons from "Jennifer's Body"
Militant group claims rocket attacks on Israel
German rivals spar, but no killer punch in TV debate
Lehman's collapse -- an insider's view
Venezuela buys powerful missiles with Russian loan | International |
Columbia astronaut's son dies in F-16 crash
Iran ready to talk but not on nuclear issues: Ahmadinejad
Oxfam warns of inaction on child, mother mortality
German rivals spar, but no killer punch in TV debate
Bin Laden warns U.S. on Israel ties: website | International |
Money markets recover to early 2008 levels: BIS
German rivals joust on jobs, nuclear power at TV debate
Civilian contractor shot dead on US base in Iraq
Policeman's family killed as they slept in Iraq
Four killed in U.S. missile strike in Pakistan | International |
Australian government again raises prospect of early poll | International |
Militant group claims rocket attacks on Israel | International |
Son of late Israeli astronaut dies in plane crash
Abbas's Fatah backs Egypt election delay proposal | International |
U.S. soldier in Iraq arrested in contractor killing
Mubarak urges Netanyahu to stop settlements
China showers gifts on tiny, resources-rich Timor | International |
Cubans pay respect to revolution hero Almeida | International |
Evidence questioned in Okla. child rape case
Iraq shoe-throwing reporter to quit jail as celebrity
Palau confirms will take four Guantanamo Uighurs
Rethink your ways, Bin Laden tells Americans
China heaps scorn on U.S. tyre duties
Malaysian police seize smuggled bear parts, owls
Asia Celsius
Vietnam Montagnards jailed up to 10 years: media
Grizzly bear gets swim lessons in Montana pool
SingTel to sell INQ's social networking phone | Technology |
Obama to discuss regulation on Lehman anniversary
India's low-caste icon halts statue-building spree
Report: FBI probing 'stolen' Jackie Kennedy note
Obama says he's expecting 'good health care bill'
Suspected insurgents kill 5 in Thailand's south
Four killed in U.S. missile strike in Pakistan
Election trouble brewing for House Dems in 2010
37 killed in fire at Kazakh drug rehab clinic
Official: Dozens of Taliban killed after US deaths
2 Utah areas on list of West's 'imperiled' land
China reviewing first IPOs on new exchange
S.Korea exports to China post smallest fall in 10 mths
S.Korea c.bank: globalisation complicates policy
Japan Airlines shares surge amid tie-up reports
Taiwan dollar weakens on stocks, central bank buying
Seoul shares turn lower as techs fall; banks up
S.Korean T-bonds edge down ahead of auctions
Seoul shares open up; exporters fall, banks gain
New Zealand retail sales in surprise fall in July
Kanye West outburst mars MTV music video awards | Entertainment |
Mongolia stages 'world's longest horse race'
Struggling NBC takes the Leno leap | Entertainment |
Emmy-nominated 'Naked City' actor Paul Burke dies
Kanye West outburst rains on Swift's MTV parade
Ricky Gervais' Lying is hilarious, to be honest | Entertainment |
Victoria Beckham: from celebrity to NY couturier
'Basketball Diaries' author Jim Carroll dies
Showbiz kids bring talent to Toronto | Entertainment |
Flowers, slightly trampled, at NY Fashion Week
Bagwell named Collegiate Chorale music director
Tom Ford fashions a poignant gay drama | Entertainment |
Designers at NY fashion week show hesitation
Three hooked on Drugs romantic comedy | Entertainment |
New Zealand provided fertile ground for film 'Vintner's Luck'
Cody exorcises demons from Jennifer's Body | Entertainment |
Basketball Diaries author Jim Carroll dies | Entertainment |
Star cast lost in Low-profile Southern fable | Entertainment |
Oprah says she saw herself in dark film 'Precious'
US, 5 other world powers expected at Iran talks
SingTel to sell INQ's social networking phone
Year after Lehman collapse, Obama charts new course
Former Israeli premier Olmert to stand trial
Depression harms cancer survival rates: study
Iran's talks with world powers to start in October
Britons jailed for 9/11-scale airline bomb plot | International |
Israel mourns pilot, grieves for astronaut's family
US strike kills up to five in NW Pakistan
Iran's talks with world powers to start next month | International |
Netanyahu says won't freeze building in settlements | International |
Iraqi court orders the release of Bush shoe thrower | International |
Iran tries 6 more activists for demonstrations
Pakistan forces swoop for Taliban leader in Swat | International |
British soldier killed in Afghanistan
U.N. rights boss targets Gulf states, Afghanistan | International |
Afghanistan's most desolate region mired in obscurity | International |
Iran starts fifth trial over post-election
Japan finance minister may be Naoshima, not Fujii: report | International |
Anger at economy won't deter Obama on health
Straight spouses advocate same-sex marriage
Vigil planned for missing Yale student
Intel restructures after executive departs | Technology |
Web TV firm Joost ousts Chairman Mike Volpi | Technology |
VMA chaos, as usual: Kanye upset, Jackson honored
President speaks on economy in Wall St. speech
British, NATO troops killed in Afghanistan
Official: India's Maoist rebels expand influence
Pakistan forces swoop for Taliban leader in Swat
Obama touts Wall St. changes on Lehman anniversary
Growing Mich. college swaps tuition for property
Dalai Lama meets US officials
Japan's likely next PM meets outgoing leader
SKorea holds summit with Italian president
Taiwan's former leader appeals life sentence
Protest in Bangladesh against gas exploration deal
AP NewsAlert
British soldier killed in Afghanistan
Pakistani stocks end slightly higher; rupee firms
Japan's NEC, Hitachi, Casio mobile phone merger
SKorea's Doosan takes over Czech turbine maker
Cambodia joins rubber association
=2
Seoul shares down; Hankook hit by US duties on China
China to review IPOs for Nasdaq-type board: report
At 92, Dame Vera Lynn has Britain's No. 1 record
Eva Mendes has eyes for Guys | Entertainment |
Eva Mendes has eyes for "Guys"
Kanye West outburst mars MTV music video awards
Showbiz kids bring talent to Toronto
Eric McCormack to play conman in Lifetime movie
Three hooked on "Drugs" romantic comedy
Tom Ford fashions a poignant gay drama
Ricky Gervais' "Lying" is hilarious, to be honest
Star cast lost in "Low"-profile Southern fable
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01